Alliant Energy obtains $300 million two-year term loan via U.S. Bank

By Tali Rackner

Minneapolis, April 30 – Alliant Energy Corp. wholly owned subsidiary Alliant Energy Finance, LLC entered into a $300 million two-year term loan credit agreement on Thursday with U.S. Bank NA as administrative agent and lead arranger, according to an 8-K filing with the Securities and Exchange Commission.

Interest is equal to Libor plus 60 basis points to 80 bps, depending on the company’s long-term debt ratings.

Proceeds from the loan, which matures in April 2020, will be used for general corporate purposes.

The credit agreement contains various covenants, including one that requires Alliant Energy to maintain a maximum debt-to-capital ratio of 65% on a consolidated basis.

The agreement also includes a covenant that requires any proceeds from asset sales, with certain exclusions, in excess of 25% of Alliant Energy’s consolidated assets be used to reduce certain debt commitments.

Alliant Energy is a Madison, Wis., utility holding company.

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